The sum of $10.7 billion has been budgeted to advance works on the Gas-to-Energy (GtE) project at the Wales Industrial Zone, West Bank Demerara (WBD).
This was announced by Finance Minister Dr Ashni Singh who noted that this year, the government aims to complete Phase One of the project including the power plant, control centre, Natural Gas Liquids (NGL) plant, and transmission lines.
Located at Wales, West Bank Demerara (WBD), the GtE Project comprises a 300-megawatt (MW) combined cycle power plant and a natural gas liquids (NGL) facility that are being built to utilise the rich natural gas that will be piped from the Liza Field in the Stabroek Block, offshore Guyana.
Meanwhile, the Finance Minister said the government also intends to develop Phase Two of the GtE project, which will provide an additional 300-MW of gas-fired power to the national grid.
Dr Singh noted that Expressions of Interest were received in 2025, five firms were pre-qualified, and these were subsequently invited to submit bids which are expected in the first quarter of 2026.
The government will also examine the possibility of another GtE project, as part of the Berbice Industrial Development Initiative, which could entail the construction of a third state-of-the-art power plant at Palmyra by 2030. The Finance Minister noted that this project is currently at the planning stage.
GtE project to be ready in 2026, electricity costs to drop by 50% – PM
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